African Financial Architecture: Voice, Representation, Preferred Creditor Status, and the Alliance of African Multilateral Financial Institutions

Reform of the international financial architecture is incomplete without the voice and the representation of African multilateral financial institutions. The institutions’ ability to continue supporting African countries depends on their preferred creditor status, which Bretton Woods institutions now contest. In this context, the recently formed Alliance of African Multilateral Financial Institutions offers a strategic lending platform for African sovereigns. By supporting the alliance and defending its practices, the African Union can entrench an African financial architecture. African multilateral financial institutions must operate on their own terms, and their practices must not be subordinated to narratives constructed by the Bretton Woods institutions. Journal of Contemporary Issues in African Trade and Trade Finance, 10(2), 8-21